Audit and Internal Control Framework Based on Four-Party Coordination
First written in FY2017. 1 of 3 entries say "Restated". Latest entry: FY2022.
Hi-Lex moved to the "Worse" side of this theme in 2023.
The whole theme swung hardest in 2023: 3 of 24 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2022ReframedAnnual report
「During the current fiscal year, as with the activities of the full-time Audit & Supervisory Board Member, it became difficult to conduct on-site audits due to the impact of COVID-19, so internal audits were conducted remotely as an alternative measure.」
The four-party audit framework remains in place, but because on-site audits became difficult due to infectious disease, the operating method for internal audits and Audit & Supervisory Board Members' audits was changed to remote audits. - FY2019RestatedAnnual report
「This has established a framework under which four parties conduct audits from their respective positions, coordinating with and providing mutual checks on one another: the Board of Directors and Audit & Supervisory Board Members conduct operational and accounting audits, the certified public accountant conducts audits as the accounting auditor, and the Internal Control Audit Office conducts internal control audits based on compliance with the J-SOX Act.」
The company continues to describe an audit framework involving coordination and mutual checks among the Board of Directors and Audit & Supervisory Board Members, the accounting auditor, and the Internal Control Audit Office. - FY2017First statedAnnual report
「This has established a framework under which four parties conduct audits from their respective positions, coordinating with and providing mutual checks on one another: the Board of Directors and Audit & Supervisory Board Members conduct operational and accounting audits, the certified public accountant conducts audits as the accounting auditor, and the Internal Control Audit Office conducts internal control audits based on compliance with the J-SOX Act.」
The company explains that it has established an audit framework in which the Board of Directors and Audit & Supervisory Board Members, the accounting auditor, and the Internal Control Audit Office coordinate with and provide mutual checks on one another.